Oil inventories in the United States went up by 4.6 million barrels from the previous week to reach 532.2 million barrels in the week ending May 1, the US Energy Information Administration (EIA) said in its weekly report on Wednesday. The growth in crude stockpile sis lower compared to market expectations.
Crude oil refinery inputs averaged 13 million barrels per day in the same week, up by 216,000 barrels per day more from the previous week’s average. Meanwhile, refineries operated at 70.5% of their capacity last week. The United States crude oil imports rose by 410,000 barrels per day on a weekly basis to an average of 5.7 million barrels per day in the seven-day period ending May 1. Gasoline production dropped last week, averaging 6.7 million barrels per day, while distillate fuel output increased to an average of 5.1 million barrels per day. Nick Note: reality is in these extraordinary times data bases are useless. they do not reflect the fact that its a temporary slow down. which will be reversed very very quickely